General Information AXA Mandiri

Definition and principles of risk

In everyday life we often hear the term ' risk '. Various risks, such as fire, hitting other vehicles on the road, the risk of flooding in the rainy season and so forth, can cause us to bear the risk of loss if not anticipated from the start. The next question is, what constitutes a ' risk ', especially in insurance?

What is the risk?

The definition of risk insurance is uncertainty regarding the occurrence of an event that can cause economic losses.

Is a form of risk?

The original form of risk including the risk of speculatived, risk, risk and risk-specific basis.

Genuine risk is the risk that only has two types of consequence: lose or breather even, for example, theft, accident or fire. Speculatived risk is the risk that has three types of consequence: body, gain or breather even, for instance, gambling. Particular risk is the risk that comes from individuals and local impacts, such as plane crashes, car accident and sinking the ship. While the basic risk risk that comes from individuals and the wider impacts, such as hurricanes, earthquakes and floods.

Risk management

As an organization, the company primarily serves a purpose in the implementation of risk management. Goal: reduce costs, prevent failure, corporate profit increases, lowering production costs and so on.

What is a risk management?

Risk management is a management process, including the identification, evaluation and control of risks which can threaten the survival of the business or activities of the company.

What is the stage of the implementation of risk management?

Stages in implementing risk management identifying the risks that might be suffered by the company before, personal or family risk evaluation identified after concluding the severity (value at risk) and frequency do. The final stage is to control risk. Risk control phase is divided into two physical control (eliminate the risk, the risk is minimized) and financial control (withstand risks, the risk is transferred).

Eliminate the risk is to eliminate all possible damage, e.g. a car driving in the wet season, limited to a maximum speed of 60 km/h. Minimizing the risks associated with an effort to minimize losses in production, the possibility of damage to the product can be reduced by quality control (quality control). Hold means alone to bear the risk of all or part of the risk the risk, for example by setting up funds in companies which are facing losses that might occur (storage). While redirects can be done by transferring the risk of loss/risk that may occur to other sides, such as insurance companies.

Title : General Information AXA Mandiri
Description : General Information AXA Mandiri Definition and principles of risk In everyday life we often hear the term ' risk '. Various r...